Renasant Co. (NASDAQ:RNST) Stock Position Raised by Invesco Ltd.

Invesco Ltd. boosted its position in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 83.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 453,604 shares of the financial services provider's stock after purchasing an additional 206,873 shares during the quarter. Invesco Ltd. owned about 0.71% of Renasant worth $16,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Renasant by 81.1% during the third quarter. JPMorgan Chase & Co. now owns 263,353 shares of the financial services provider's stock valued at $8,559,000 after buying an additional 117,950 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Renasant by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider's stock worth $11,018,000 after purchasing an additional 8,710 shares in the last quarter. Franklin Resources Inc. increased its position in Renasant by 122.0% during the 3rd quarter. Franklin Resources Inc. now owns 27,669 shares of the financial services provider's stock valued at $910,000 after buying an additional 15,203 shares in the last quarter. Equitable Trust Co. purchased a new stake in Renasant in the fourth quarter valued at about $248,000. Finally, Geode Capital Management LLC increased its holdings in shares of Renasant by 12.0% during the third quarter. Geode Capital Management LLC now owns 1,428,038 shares of the financial services provider's stock valued at $46,420,000 after acquiring an additional 153,086 shares in the last quarter. 77.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RNST shares. Stephens raised their target price on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Raymond James raised shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Thursday. Piper Sandler increased their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $46.00 price target (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.17.

Renasant Stock Performance

Shares of NASDAQ:RNST traded up $0.90 on Thursday, reaching $32.01. The company's stock had a trading volume of 691,153 shares, compared to its average volume of 877,767. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant Co. has a 52-week low of $26.97 and a 52-week high of $39.63. The stock's 50-day moving average is $33.05 and its two-hundred day moving average is $35.03. The stock has a market capitalization of $2.04 billion, a P/E ratio of 9.79 and a beta of 0.93.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. Renasant had a net margin of 17.91% and a return on equity of 6.58%. The business had revenue of $170.59 million for the quarter, compared to analyst estimates of $170.38 million. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts forecast that Renasant Co. will post 2.68 EPS for the current year.

Renasant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Monday, March 17th. Renasant's dividend payout ratio (DPR) is presently 26.91%.

Insider Transactions at Renasant

In other news, CAO Kelly Hutcheson sold 1,310 shares of Renasant stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the completion of the sale, the chief accounting officer now directly owns 17,586 shares in the company, valued at $645,757.92. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.81% of the company's stock.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.